Pursuing a real estate transaction can be a stressful situation for the parties involved. There are often many complex legal and logistical issues at hand during what may be an emotional time for a person buying or selling a home, or facing a foreclosure.
Buying or selling a home in both the Phoenix area and the state of Arizona involves a lot of moving parts. Purchase agreements must fulfill the needs of both buyer and seller. Buyers and sellers will want to ensure proper completion and documentation of inspections, title review and required due diligence. Sellers have legally required disclosures and representations regarding the property. Short sale purchases or purchases of bank-owned properties may involve additional legal and technical requirements with which a homebuyer may not be familiar. An attorney experienced in real estate law can possibly protect the interests of both buyers and sellers in a real estate transaction.
Real estate attorneys can also assist homeowners facing an inability to pay their mortgage. A homeowner who is struggling to pay his or her mortgage may feel that he or she has no options, but that is not always the case. There are numerous options for homeowners that include loan workout, loan modification, short sale, foreclosure or trustee sale. Additionally, there can possibly be ways for a homeowner to limit his or her financial exposure in light of a foreclosure. Legal counsel can help a homeowner consider which of these options may be in his or her best interests under the circumstances.
It is essential to make an informed decision whether you are buying, selling or dealing with a foreclosure. An attorney experienced in this area of the law can possibly assist with these decisions. For more information on real estate transactions, please visit our site.